Shoppers leave a J.C. Penney store in Chicago earlier this year. The company reported a quarterly loss of $128 million, or 41 cents a share, compared with a loss of $67 million, or 22 cents a share, a year ago.

J.C. Penney delivered some encouraging news Friday: It reported a solid rise in sales at established stores, reversing four-straight quarters of declines. It also posted a smaller-than-expected loss for the third quarter, all news that sent its shares soaring.